Iraq seals deal for Karbala refinery

Iraq’s Ministry of Oil recently approved a $6.04 billion refinery-construction contract with the Korean Engineering and Construction company, Hyundai.

The new refinery will provide a wide range of petroleum products to the growingIraqi economic and industrial sectors.

Iraq’s Minister of Oil Abdulkareem Liaybi reported that the planned 140,000-b/d Karbala refinery, which will produce liquefiedgas, gasoline, gas oil, fuel oil, jet fuel, and asphalt meeting international standards equivalent to European production, will serve growing domestic Iraqi demand.

The Karbala refinery is one of four projects aimed at increasing long term domestic refining capacity. Other projects are set to take place in Maysan, Kirkuk, and Nassiriya.

For the original January 9, 2014 piece from Oil & Gas Journal referenced in this summary, click here.